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Jan 19, 2013
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no debt ceiling default. okay. but mark, the problem i have is they refuse to talk about the across-the-board automatic spending cuts in the so-called sequester. it's about 80, $100 billion this year and $1.2 trillion over ten years. to me that is their biggest mistake. that is already the law. the democrats are trying to hedge on it. the president has already said it's not going to happen. this is where the republicans should go. and they won't go there. and that's why i doubt their bona fides on spending. >> you have to first of all as i said before get across that spending levels are stoo high. keith, you would agree with that, right? >> no. >> see what i mean? they're too high. >> perfect. right. >> you think this level is appropriate. 25% gdp. >> you're talking about gdp to spending -- >> yeah. >> yeah, that is too high. but that's not because we're spending too much. it's because our revenues aren't -- the reason our revenues is r. in decline is we're in a very weak recovery. we got out of the worst resgs --
no debt ceiling default. okay. but mark, the problem i have is they refuse to talk about the across-the-board automatic spending cuts in the so-called sequester. it's about 80, $100 billion this year and $1.2 trillion over ten years. to me that is their biggest mistake. that is already the law. the democrats are trying to hedge on it. the president has already said it's not going to happen. this is where the republicans should go. and they won't go there. and that's why i doubt their bona fides...
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Feb 1, 2013
02/13
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today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the absence of cutting spending someplace to replace those 1.2 -- >> got to take it where you get it. >> it's not the only way we're going to get it. >> it's never a good time to cut spending. it's one of the things i've learned. i guess i saw it years ago when i worked down there. but reporting on this thing night after night, one of the things i learned, senator moran, is it's never a good time to cut spending. so march 1st is an interesting deadline. >> i'm not voting to set the sequester aside unless we cut the 1.2 trillion someplace else. >> good luck on that. senator jerry moran of kansas, thank you ve
today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the...
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Oct 1, 2013
10/13
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will bleed into the debt ceiling. hang on everybody, please. we have a special friend and great reporter, john harwood has scored an interview with president obama. that's tomorrow. cnbc's john harwood joins us on the phone. good evening, john. congratulations, what is the occasion of this exclusive interview? is president obama gearing up to say something? >> the president is meeting with members of the financial services forum tomorrow, people like lloyd blankfine and jamie dimon at a time that he's trying to put out a message that a potential debt crisis, which is something that is a couple of weeks away, would have a terrible effect on the economy. he's trying to rally support within the business community to tell the congress specifically house republicans and republicans throughout the congress to go ahead and raise the debt limit. that argument so far has not resolved the standoff that we're in the middle of right now over funding the government, and we don't have a solution in site on the debt limit. the presi
will bleed into the debt ceiling. hang on everybody, please. we have a special friend and great reporter, john harwood has scored an interview with president obama. that's tomorrow. cnbc's john harwood joins us on the phone. good evening, john. congratulations, what is the occasion of this exclusive interview? is president obama gearing up to say something? >> the president is meeting with members of the financial services forum tomorrow, people like lloyd blankfine and jamie dimon at a...
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Jun 12, 2013
06/13
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>> for me to raise the debt ceiling to borrow a bunch more money, we're already $17 trillion in debt and climbing, i want to fix the reason we're so much in debt. that's entitlement reform. we're going to have to adjust the age of retirement for medicare to harmonize it with social security, adjust the inflation rate, inflation calculations because we overpay and means test benefits. people like you and i are going to have to pay more and take a little less out to get this program in a good spot. what do we have to do as republicans? flatten the tax code, take some money out of the tax code that goes to exemptions and deductions, pay down some debt and lower rates. that's the grand bargain. i think that's the best way to raise the debt ceiling, address why you're in debt, and i'm somewhat optimistic. but if we fail on immigration, there's no chance of a big budget deal. if we pass immigration reform, maybe the congress can do two things at once and go to the budget. >> senator, you pass tax reform and i will give you a 3% to 4% economic growth rate instead of this anemic 2%. >> you'r
>> for me to raise the debt ceiling to borrow a bunch more money, we're already $17 trillion in debt and climbing, i want to fix the reason we're so much in debt. that's entitlement reform. we're going to have to adjust the age of retirement for medicare to harmonize it with social security, adjust the inflation rate, inflation calculations because we overpay and means test benefits. people like you and i are going to have to pay more and take a little less out to get this program in a...
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Aug 28, 2013
08/13
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if house members and senators vote in favor of increasing the debt ceiling, even if they cut spending at the same time, can you live with that? or is that a no-no? >> i would have to see what they're talking about, but we have consistently said the spending needs to stop. we don't need to keep borrowing and borrowing. at some point we're going to have to pay the price for all of the debt we are incurring. if they actually made real spending cuts, we've always said that we're in favor of a 1% spending cut across the board each year for five years. at that point you're headed or are at a balanced budget. we're not asking about one penny out of every dollar they spent to be cut. >>> you have four prominent senators being primaried by tea party people. lindsey graham, mitch mcconnell, la mark alexander and mike enzi. i don't know about wyoming, but we'll be that. what's the beef against mcconnell? >> look at right now what's happening with the continuing resolution and obama care. he has promised he would fight to repeal this law. there's the opportunity for him to fight to make the case
if house members and senators vote in favor of increasing the debt ceiling, even if they cut spending at the same time, can you live with that? or is that a no-no? >> i would have to see what they're talking about, but we have consistently said the spending needs to stop. we don't need to keep borrowing and borrowing. at some point we're going to have to pay the price for all of the debt we are incurring. if they actually made real spending cuts, we've always said that we're in favor of a...
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Feb 6, 2013
02/13
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>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do that and i think we ought to get serious about the deficit and the best way to get serious about the deficit is go right over the cliff. the likelihood of having a real agreement between the white house and the conservative republicans is pretty close to zero. so i think we should take our medicine now. i don't think our sky are fall if we take the sequesters. i think from a democratic view, it's the only way we'll get the kind of defense cuts that we really need to get and we need to take our medicine. >> what i'm hearing is you disagree with the president and you
>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do...
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Mar 5, 2013
03/13
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debate and perhaps the republicans unwilling to use the debt ceiling to fight a hard aer fight. they are looking at it as stimulative in the short run. >> robert, i want your take on this. sequester, good or bad? we are looking in terms of economics, not the politics. how do you read it? >> economically this is a good thing in the long term. in the short term it will hurt republicans. the republican party is the party of no right now. from a messaging standpoint speaker boehner hasn't articulated why this is good for the american people. >> i'll tell him you said so. >> please do. >> what message do you want him to have? >> this is a good thing. every american family has to balance the budget. why can't we? every american budget, when you cut things back you have to reprioritize things. you focus on what's important. we have yet to do it as a country overall. i think the sequester, frankly i agree is a pro growth initiative in the long term. >> there is a spal but a good one. chris, your man senator mansion i would bet would vote for it. >> he's a fiscal conservative. >> i can s
debate and perhaps the republicans unwilling to use the debt ceiling to fight a hard aer fight. they are looking at it as stimulative in the short run. >> robert, i want your take on this. sequester, good or bad? we are looking in terms of economics, not the politics. how do you read it? >> economically this is a good thing in the long term. in the short term it will hurt republicans. the republican party is the party of no right now. from a messaging standpoint speaker boehner...
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Jan 25, 2013
01/13
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look there's a reason why the republicans in the white house caved on the debt ceiling. the public is not with them on these issues. >> don't know. kate, you have a little different view. i think republicans now back in the driver's seat because they cooperated on raising the debt ceiling. they forced the senate democrats to put up a budget. the next thing will be the continuing resolution, short term spending cuts. i think the gop by stopping taxes is back in play, they are back in play. >> i love your optimism, larry. i wish i could be jumping up and down with you. but i'm afraid the republicans are in full retreat. i'm hoping -- i know they won't agree to this tax increase. the senator is absolutely right. but the problem is the democrats are using this as another opportunity to put republicans of throwing granny off the cliff, caring only about their millionaire and billionaire buddies. patty murray said we'll put it on the people who best can afford it. it worked for president obama, the democrats, like the cbs news political director said is to go for the jugular,
look there's a reason why the republicans in the white house caved on the debt ceiling. the public is not with them on these issues. >> don't know. kate, you have a little different view. i think republicans now back in the driver's seat because they cooperated on raising the debt ceiling. they forced the senate democrats to put up a budget. the next thing will be the continuing resolution, short term spending cuts. i think the gop by stopping taxes is back in play, they are back in play....
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Sep 10, 2013
09/13
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what i gather is no government shut down over the continuing resolution or the debt ceiling? can i make that supposition? >> yeah, i think that's right. i think they want to stay away from it. i hope they get away from like the cr -- continuing resolution that defunds obama care. i don't think that will go anywhere either. >> thank you. dominic chu, hang out. we have much more work for you. he'll get updated on the push to get alan malayly to leave ford and take over microsoft. big news there. that's up next. >>> microsoft shares closed higher today, as speculation heats up over who will be the next ceo. dominic chu is back and he joins us with that story. what do you think? >> well, let's think about it, right? the name we keep hearing is alan mulally who is the ford ceo. for now, he is saying he'll stay through the end of next year but there's talk that ford would let him leave early for another high profile job. like the opening at microsoft. steve balmer is expected to leave within the next ten months and the microsoft stock is up again if a strong market day overall. >>>
what i gather is no government shut down over the continuing resolution or the debt ceiling? can i make that supposition? >> yeah, i think that's right. i think they want to stay away from it. i hope they get away from like the cr -- continuing resolution that defunds obama care. i don't think that will go anywhere either. >> thank you. dominic chu, hang out. we have much more work for you. he'll get updated on the push to get alan malayly to leave ford and take over microsoft. big...
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Jan 5, 2013
01/13
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you have two months until this debt ceiling fight. to actually cut something. >> he is is going to run through the budget process. so really paul ryan is going to be back in the driver's seat. sarah, after the horrible tax argument which republicans mostly lost, maybe not as bad as it could have been, has the republican party had a burning bush experience now regarding spending and debt? >> well, i think -- look, i take a different view on boehner. he had a tough hand, he played it best he could. but now, republicans are in the driver's seat. and on this debt limit, there is no reason for them to not fight until the very last day to get at least a dollar of spending cuts for every dollar of debt ceiling increase. >> that's the boehner rule. >> that's the boehner rule. he has been very consistent that he's going to stand by that rule. >> jimmy williams, the democrats don't want to cut anything. they'll oppose the sequester spending limits and they wouldn't even have a measly cost of living adjustment. so sarah may be right on this. the
you have two months until this debt ceiling fight. to actually cut something. >> he is is going to run through the budget process. so really paul ryan is going to be back in the driver's seat. sarah, after the horrible tax argument which republicans mostly lost, maybe not as bad as it could have been, has the republican party had a burning bush experience now regarding spending and debt? >> well, i think -- look, i take a different view on boehner. he had a tough hand, he played it...